Morning Bid: Blunt Powell signals rate cut plans on ice [Reuters]
Bank of America Corporation (BAC)
Last bank of america corporation earnings: 4/15 06:45 am
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Source: Reuters
After weeks of market trepidation about stalling U.S. disinflation amid still-brisk economic growth, Federal Reserve top brass are making clear that this year's rate cut plans are on ice until further notice. Even though Fed policymakers seemed to re-affirm their expectation of as many as three quarter-point cuts in 2024 as recently as last month, the picture has shifted considerably since. Echoing a series of similar soundings from his colleagues in recent days, Fed Chair Jerome Powell late on Tuesday said stubborn inflation and a still-strong U.S. economy meant restrictive policy needed more time to work. "The recent data have clearly not given us greater confidence and instead indicate that it's likely to take longer than expected to achieve that confidence," Powell told a forum in Washington, in what is likely to be his last public appearance before the April 30-May 1 policy meeting. Fed futures are taking the message on board, with as little as 40 basis points of easing
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BAC
Earnings
- 4/16/24 - Beat
BAC
Sec Filings
- 4/29/24 - Form 424B2
- 4/29/24 - Form FWP
- 4/29/24 - Form 424B2
- BAC's page on the SEC website